Savings Account
S5 Education Savings
This account is tailored for members to save for all their educational needs. Whether it be school fees, uniforms or stationery, rather than resorting to a loan, plan ahead and take advantage of this account. Actively deposit throughout the year and withdraw funds when required. Capitalise on the rewarding interest rate and save towards your next educational need. If you’re serious about taking control of your educational needs whether for yourself or the family, this account is definitely for you.
Features & Benefits
| Account Name | Education Savings Account (S5) |
|---|---|
| Minimum Deposit per fortnight | K20 |
| Withdrawls | Unlimited free everyday transactions |
| Minimum Withdrawal Amount | K100.00 |
| Additional deposit over the counter allowed | Yes |
| Minimum Balance | K10.00 balance to remain upon withdrawal |
| Interest Type | Fixed |
| Interest Rate | 3% per annum |
| Interest Crediting Frequency | 6 monthly (30.6 and 31.12 each year) |
| Fees-Account keeping fees | Zero fees apply |
Additional Information
- Applicants for this account must be at least 18 years old.